Weconnect International Inc
- Assets
- $4.5m
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 25
- Location
- Washington, DC
- Founding
- 02/2011
- Data as of
- 12/2022
- EIN
- 27-1153340
Organization Overview
Weconnect International Inc is located in Washington, DC. The organization was established in 2011. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2023, Weconnect International Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Weconnect International Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Weconnect International Inc generated $8.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $7.9m during the year ending 12/2022. While expenses have increased by 13.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WECONNECT INTERNATIONAL HELPS WOMEN-OWNED BUSINESSES SUCCEED IN GLOBAL VALUE CHAINS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONNECTING OPPORTUNITIES: BUYERS PROVIDE THEIR EXECUTIVES AND EMPLOYEES THE OPPORTUNITY TO ENGAGE WITH WOMEN BUSINESS OWNERS LOCALLY OR INTERNATIONALLY AND VIRTUALLY OR IN PERSON AND MATCHES THE INTERESTS OF THE EXECUTIVES WITH THE NEEDS OF THE WOMEN-OWNED BUSINESS. THESE EVENTS ALLOW WOMEN BUSINESS OWNERS TO PRACTICE AND ENHANCE THEIR PITCH, MEET WITH BUYERS TO LEARN ABOUT THEIR SUPPLIER DIVERSITY AND INCLUSION EFFORTS, BUYING NEEDS, CRITERIA AND PROCESSES TO BECOME SUPPLIERS AND UPCOMING CONTRACT OPPORTUNITIES.
CAPACITY BUILDING: STRENGTHEN THE CAPACITY AND CONFIDENCE OF WOMEN BUSINESS OWNERS TO THINK BIG AND GROW THEIR COMPANIES THROUGH ACCESS TO MARKETS THROUGH LOCALIZED CURRICULUM BASED ON THE NEEDS OF PARTICIPANTS.
SUPPLIER DIVERSITY AND INCLUSION INITIATIVES: STRENGTHEN A BUYER'S INTERNAL SUPPORT AND UNDERSTANDING OF THE BUSINESS CASE FOR GLOBAL SOURCING FROM WOMEN-OWNED BUSINESSES INCLUDING SUPPLIER DIVERSITY AND INCLUSION STRATEGY DEVELOPMENT; BEST PRACTICES; AND OVERALL AWARENESS AND EDUCATION ON THE IMPORTANCE OF BUYING FROM WOMEN WITHIN THE ORGANIZATION OR THE DEVELOPMENT, AND/OR TRACKING OF COMMITMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth A Vazquez President | OfficerTrustee | 40 | $331,753 |
Saritha Venumbaka COO | Officer | 40 | $225,500 |
Soledad Gompf Chief Devt Off. | Officer | 40 | $220,500 |
Jose Cunningham Sp Proj Liaison | 40 | $200,500 | |
Ana Maria Guevara Cso | Officer | 40 | $189,832 |
Michael Tobolski VP Corp Rel/mem En | 40 | $139,432 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Womens Bus Enterprise Natl Council Inc Consulting | 12/30/23 | $155,073 |
Lydon Fetterolf Corydon Pa Accounting/consulting | 12/30/23 | $139,210 |
Carahsoft Technology Consulting | 12/30/23 | $382,613 |
Premikati It | 12/30/23 | $103,985 |
Chatham Lab Llc Consulting | 12/30/23 | $121,403 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $69,888 |
| Related organizations | $0 |
| Government grants | $1,576,074 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,148,731 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,794,693 |
| Total Program Service Revenue | $3,848,772 |
| Investment income | $6,744 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$105,957 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,545,752 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $777,662 |
| Compensation of current officers, directors, key employees. | $72,422 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,942,424 |
| Pension plan accruals and contributions | $23,056 |
| Other employee benefits | $110,213 |
| Payroll taxes | $191,898 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,164 |
| Fees for services: Accounting | $178,345 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $726,785 |
| Advertising and promotion | $64,177 |
| Office expenses | $177,337 |
| Information technology | $172,519 |
| Royalties | $0 |
| Occupancy | $153,970 |
| Travel | $59,118 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $279,329 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,443 |
| Insurance | $34,832 |
| All other expenses | $97,521 |
| Total functional expenses | $7,853,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $824,495 |
| Savings and temporary cash investments | $1,782,280 |
| Pledges and grants receivable | $1,439,846 |
| Accounts receivable, net | $13,791 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $50,071 |
| Net Land, buildings, and equipment | $287,799 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $64,472 |
| Other assets | $69,465 |
| Total assets | $4,532,219 |
| Accounts payable and accrued expenses | $391,784 |
| Grants payable | $0 |
| Deferred revenue | $850,131 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $84,632 |
| Total liabilities | $1,326,547 |
| Net assets without donor restrictions | $3,156,235 |
| Net assets with donor restrictions | $49,437 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,532,219 |